Super Micro Computer (SMCI) stock surged more than 16% Wednesday morning after the AI hardware maker filed its long-awaited financial reports, alleviating delisting concerns on the Nasdaq that had loomed since last year.

The San Jose-based company filed its delayed annual report for the fiscal year ending June 30, along with quarterly earnings for the periods ending Sept. 30 and Dec. 31, after the market closed on Tuesday.

“Today’s filings represent an important milestone,” said CEO Charles Liang. He added that the company is heavily investing in talent and processes across key departments to drive its mission in DLC, Data Center Building Block Solution (Supermicro 4.0), and revenue goals.

SMCI is thriving this year

As a key partner and reseller of Nvidia’s (NVDA) GPUs and other components, Super Micro integrates the technology into its servers to support AI workloads. Super Micro CEO Charles Liang and Nvidia CEO Jensen Huang are both Taiwanese immigrants and have a long-standing relationship.

Super Micro’s stock has been on the rise, especially following its latest earnings report filed earlier this month. The report showcased a strong outlook and an ambitious 2026 target, drawing investor interest. Currently, the stock is trading around $53 per share, marking a 76% gain this year.

2024 was full of ups and downs

The SMCI stock thrived for much of 2024 and entered the Fortune 500 at No. 498 as part of a frenzy over AI and related tools.

However, Super Micro Computer went through a rough phase in September 2024 when a short seller, Hindenburg Research, published a scathing report accusing the company of accounting red flags and questionable business dealings, including alleged sanctions evasion from exports to Russian and Chinese firms.

Following that, its auditor, Ernst & Young, resigned, citing disagreement over Super Micro Computer’s governance practices and board independence.

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